Listed ETFs · evidence before allocation

Compare IEACLC, Vertex, or both

Compare price and NAV performance, underlying exposure, overlap and order scale. Every premium or discount uses an exact shared date; missing evidence is never inferred.

Matched dates

As at 18 Sep 2026 · Source: Fund managers and Dar es Salaam Stock Exchange

Source clocksDSE 18 Sep 2026 · IEACLC NAV 18 Sep 2026 · VERTEX NAV 18 Sep 2026

Independent publication clocks. IEACLC allocation is dated 11 Sep 2026. Official sources were last checked 19 Sep 2026. Price-to-NAV gaps use exact shared dates only; unmatched observations are never carried forward.

Visual evidence · not advice

The visual case

Price versus NAV · portfolio shape · overlap · order scale.

01 · Price versus value

Three months, rebased to 100

One scale across both funds. Exact shared dates only; neither line fills a missing observation.

IEACLC

iTrust EAC Large Cap ETF

0.28% premium

NAV: TZS 1,436.04
DSE price: TZS 1,440
Shared date: 18 Sep 2026

Open exact 1m, 3m and full-history ledger

IEACLC exact-date DSE price and manager NAV changes
Window	Dates	DSE price	NAV
1 month	18 Aug 202618 Sep 202621 matched dates	+6.67%	+4.33%
3 months	18 Jun 202618 Sep 202662 matched dates	+20.00%	+15.31%
Since first exact match	28 Jan 202618 Sep 2026156 matched dates	+26.32%	+35.84%

VERTEX

Vertex VIS-ETF (Vertex International Securities ETF)

12.31% discount

NAV: TZS 399.12
DSE price: TZS 350
Shared date: 18 Sep 2026

Open exact 1m, 3m and full-history ledger

VERTEX exact-date DSE price and manager NAV changes
Window	Dates	DSE price	NAV
1 month	19 Aug 202618 Sep 202621 matched dates	+4.48%	+4.57%
3 months	18 Jun 202618 Sep 202662 matched dates	+6.06%	+10.93%
Since first exact match	11 Nov 202518 Sep 2026197 matched dates	+4.48%	+47.47%

02 · What sits underneath

IEACLC discloses weights; Vertex discloses names

IEACLC

Five largest positions

iTrust-reported weights at 11 Sep 2026.

Safaricom20.87%+19.06%KCB Bank14.27%+27.72%NMB Bank9.72%Not comparableTanzania Cigarette8.20%+17.44%MTN Uganda5.70%+20.83%Other41.24%

Top 3: 44.86%
Top 5: 58.76%

Country

Kenya52.45%Tanzania33.85%Uganda9.23%Rwanda4.48%

Sector

Banking43.96%Telco29.97%Manufacturing19.35%Insurance4.25%

Open the full holdings ledger

IEACLC disclosed holdings
Holding	Weight	Share-price change
Safaricom	20.87%	+19.06%
KCB Bank	14.27%	+27.72%
NMB Bank	9.72%	Not comparable
Tanzania Cigarette	8.20%	+17.44%
MTN Uganda	5.70%	+20.83%
Equity Bank	5.58%	N/A
Tanga Cement	4.85%	N/A
Bank of Kigali	4.48%	N/A
Jubilee Holdings	4.25%	N/A
Twiga Cement	3.68%	N/A
Stanbic Bank Kenya	3.59%	N/A
Stanbic Bank Uganda	3.52%	N/A
Vodacom	3.39%	N/A
CRDB Bank	2.80%	N/A
BAT Kenya	2.62%	N/A
Cash	2.47%	N/A

VERTEX

Five named constituents

The names are known. Their proportions are not available in the governed dataset.

01CRDB Bank +142.24%

02NMB Bank Not comparable

03NICOL +162.14%

04DSE Plc −2.65%

05Afriprise +57.45%

Proportions unknown

Weights and constituent contribution are not published. Each company’s observed price change is shown separately; KCP does not infer the missing weights.

Known overlap

Two names bridge both funds

IEACLC12.52% of IEACLC

NMB BankCRDB Bank

VERTEXVertex weight unavailable

Combined overlap cannot be quantified

03 · Order size against one recorded session

Liquidity scale check · up to TZS 100mn

Choose an amount and vehicle. KCP compares it with DSE close × recorded volume for the latest session. This is not an executable quote or a market-impact estimate.

Choose the vehicle

Amount to test

TZS mn

Split across both ETFs50% IEACLC · 50% VERTEX

Amount under reviewTZS 100,000,000

IEACLC29.4%

25 to 100% of the reference session

Log scale · 100% = one recorded session

Allocated amount: TZS 50,000,000
Whole units at close: 34,722
Units valued at close: TZS 49,999,680
Rounding cash: TZS 320

VERTEX3.73×

Above one full reference session

Log scale · 100% = one recorded session

Allocated amount: TZS 50,000,000
Whole units at close: 142,857
Units valued at close: TZS 49,999,950
Rounding cash: TZS 50

Method: close-value proxy = closing price × session volume. Whole units = amount ÷ close, rounded down. Order-book depth, bid/offer, slippage, creation/redemption capacity, fees, taxes and custody are not in the calculation.

Evidence boundariesOpen fees, distributions and data gaps

01
Price and NAV changes exclude distributions, fees, taxes, brokerage, custody and settlement costs.
02
Company price changes are not aggregated into fund contribution because period weights, currency effects and portfolio changes are not normalized.
03
An exact-date benchmark series is absent; no benchmark return is manufactured.

SourcesiTrust allocation ↗Vertex ↗DSE ↗

03 · Movement record

Institutional allocation now has a history

20 source-dated disclosures from 6 Feb 2026 to 11 Sep 2026. Weeks without an official disclosure remain unfilled.

Cash-0.51 pp2026-08-28 to 2026-09-11

Largest listed increaseKCB Bank+1.75 pp

Largest listed reductionNMB Bank-2.40 pp

Open the complete movement history

Largest movements between official IEACLC disclosures
Disclosure interval	Largest increase	Largest reduction	Source
28 Aug 2026 to 11 Sep 202614 days	KCB Bank+1.75 pp	NMB Bank-2.40 pp	iTrust Finance Limited
21 Aug 2026 to 28 Aug 20267 days	NMB Bank+1.40 pp	Tanga Cement-0.67 pp	iTrust Finance Limited
31 Jul 2026 to 21 Aug 202621 days	Equity Bank+1.56 pp	Tanga Cement-0.82 pp	iTrust Finance Limited
17 Jul 2026 to 31 Jul 202614 days	Tanga Cement+1.14 pp	KCB Bank-0.68 pp	iTrust Finance Limited
10 Jul 2026 to 17 Jul 20267 days	Tanga Cement+0.30 pp	KCB Bank-0.11 pp	iTrust Finance Limited
26 Jun 2026 to 10 Jul 202614 days	Safaricom+0.51 pp	KCB Bank-0.87 pp	iTrust Finance Limited
12 Jun 2026 to 26 Jun 202614 days	KCB Bank+0.91 pp	Twiga Cement-0.58 pp	iTrust Finance Limited
5 Jun 2026 to 12 Jun 20267 days	Stanbic Bank Kenya+0.74 pp	CRDB Bank-0.22 pp	iTrust Finance Limited
29 May 2026 to 5 Jun 20267 days	Safaricom+0.46 pp	KCB Bank-0.68 pp	Dar es Salaam Stock Exchange
8 May 2026 to 29 May 202621 days	Stanbic Bank Kenya+3.16 pp	NMB Bank-4.77 pp	Dar es Salaam Stock Exchange
24 Apr 2026 to 8 May 202614 days	Tanzania Cigarette+0.63 pp	BAT Kenya-0.98 pp	Dar es Salaam Stock Exchange
10 Apr 2026 to 24 Apr 202614 days	Bank of Kigali+0.56 pp	NMB Bank-1.46 pp	Dar es Salaam Stock Exchange
20 Mar 2026 to 10 Apr 202621 days	Bank of Kigali+2.19 pp	Equity Bank-4.73 pp	Dar es Salaam Stock Exchange
13 Mar 2026 to 20 Mar 20267 days	Stanbic Bank Uganda+0.66 pp	Safaricom-0.36 pp	Dar es Salaam Stock Exchange
6 Mar 2026 to 13 Mar 20267 days	Safaricom+0.57 pp	NMB Bank-1.16 pp	Dar es Salaam Stock Exchange
27 Feb 2026 to 6 Mar 20267 days	Tanzania Cigarette+1.84 pp	CRDB Bank-0.90 pp	Dar es Salaam Stock Exchange
20 Feb 2026 to 27 Feb 20267 days	MTN Uganda+2.03 pp	Safaricom-2.11 pp	Dar es Salaam Stock Exchange
13 Feb 2026 to 20 Feb 20267 days	NMB Bank+3.93 pp	Vodacom-0.35 pp	Dar es Salaam Stock Exchange
6 Feb 2026 to 13 Feb 20267 days	Equity Bank+2.92 pp	Tanzania Cigarette-1.69 pp	Dar es Salaam Stock Exchange

DSE price association

Weight changes alongside market prices

Each measure pairs the change in disclosed weight with the share-price move relative to the TSI over the same interval. This is descriptive association, not an impact estimate or evidence of causation.

Association summary for IEACLC weight changes and DSE-listed share prices
Security	Intervals	Correlation	Latest matched pair
NMB BankNMB	16	-0.25	-2.40 pp weight-1.98% versus TSI
Tanzania CigaretteTCC	16	+0.70	+1.00 pp weight+3.59% versus TSI
Twiga CementTPCC	16	+0.53	-0.06 pp weight-3.93% versus TSI
Tanga CementTCCL	16	+0.78	+0.19 pp weight+1.92% versus TSI
CRDB BankCRDB	16	+0.40	+0.19 pp weight+5.05% versus TSI
VodacomVODA	16	+0.84	+0.09 pp weight+0.91% versus TSI

Open the matched DSE interval ledger

Matched intervals for weight changes, share prices and the TSI
Disclosure interval	Security	Weight change	Share price	TSI	Versus TSI
28 Aug 2026 to 11 Sep 20262026-08-28 to 2026-09-11	VodacomVODA	+0.09 pp	+5.71%	+4.80%	+0.91%
28 Aug 2026 to 11 Sep 20262026-08-28 to 2026-09-11	Twiga CementTPCC	-0.06 pp	+0.87%	+4.80%	-3.93%
28 Aug 2026 to 11 Sep 20262026-08-28 to 2026-09-11	Tanzania CigaretteTCC	+1.00 pp	+8.39%	+4.80%	+3.59%
28 Aug 2026 to 11 Sep 20262026-08-28 to 2026-09-11	Tanga CementTCCL	+0.19 pp	+6.72%	+4.80%	+1.92%
28 Aug 2026 to 11 Sep 20262026-08-28 to 2026-09-11	NMB BankNMB	-2.40 pp	+2.82%	+4.80%	-1.98%
28 Aug 2026 to 11 Sep 20262026-08-28 to 2026-09-11	CRDB BankCRDB	+0.19 pp	+9.85%	+4.80%	+5.05%
21 Aug 2026 to 28 Aug 20262026-08-21 to 2026-08-28	VodacomVODA	-0.11 pp	+2.94%	+6.47%	-3.53%
21 Aug 2026 to 28 Aug 20262026-08-21 to 2026-08-28	Twiga CementTPCC	-0.42 pp	-4.35%	+6.47%	-10.82%
21 Aug 2026 to 28 Aug 20262026-08-21 to 2026-08-28	Tanzania CigaretteTCC	-0.41 pp	+0.65%	+6.47%	-5.82%
21 Aug 2026 to 28 Aug 20262026-08-21 to 2026-08-28	Tanga CementTCCL	-0.67 pp	-7.00%	+6.47%	-13.47%
21 Aug 2026 to 28 Aug 20262026-08-21 to 2026-08-28	NMB BankNMB	+1.40 pp	-87.97%	+6.47%	-94.44%
21 Aug 2026 to 28 Aug 20262026-08-21 to 2026-08-28	CRDB BankCRDB	-0.22 pp	-1.86%	+6.47%	-8.33%
31 Jul 2026 to 21 Aug 20262026-07-31 to 2026-08-21	VodacomVODA	+0.15 pp	+2.00%	+1.15%	+0.85%
31 Jul 2026 to 21 Aug 20262026-07-31 to 2026-08-21	Twiga CementTPCC	+0.02 pp	+1.36%	+1.15%	+0.21%
31 Jul 2026 to 21 Aug 20262026-07-31 to 2026-08-21	Tanzania CigaretteTCC	-0.47 pp	+0.16%	+1.15%	-0.99%
31 Jul 2026 to 21 Aug 20262026-07-31 to 2026-08-21	Tanga CementTCCL	-0.82 pp	-7.83%	+1.15%	-8.98%
31 Jul 2026 to 21 Aug 20262026-07-31 to 2026-08-21	NMB BankNMB	-0.60 pp	+0.68%	+1.15%	-0.47%
31 Jul 2026 to 21 Aug 20262026-07-31 to 2026-08-21	CRDB BankCRDB	-0.10 pp	+2.67%	+1.15%	+1.52%
17 Jul 2026 to 31 Jul 20262026-07-17 to 2026-07-31	VodacomVODA	+0.92 pp	+25.00%	+2.74%	+22.26%
17 Jul 2026 to 31 Jul 20262026-07-17 to 2026-07-31	Twiga CementTPCC	-0.38 pp	-5.30%	+2.74%	-8.04%
17 Jul 2026 to 31 Jul 20262026-07-17 to 2026-07-31	Tanzania CigaretteTCC	-0.35 pp	-0.81%	+2.74%	-3.55%
17 Jul 2026 to 31 Jul 20262026-07-17 to 2026-07-31	Tanga CementTCCL	+1.14 pp	+26.90%	+2.74%	+24.16%
17 Jul 2026 to 31 Jul 20262026-07-17 to 2026-07-31	NMB BankNMB	+0.16 pp	+4.96%	+2.74%	+2.22%
17 Jul 2026 to 31 Jul 20262026-07-17 to 2026-07-31	CRDB BankCRDB	-0.20 pp	-2.96%	+2.74%	-5.70%
10 Jul 2026 to 17 Jul 20262026-07-10 to 2026-07-17	VodacomVODA	+0.04 pp	0.00%	+0.57%	-0.57%
10 Jul 2026 to 17 Jul 20262026-07-10 to 2026-07-17	Twiga CementTPCC	-0.11 pp	-1.58%	+0.57%	-2.15%
10 Jul 2026 to 17 Jul 20262026-07-10 to 2026-07-17	Tanzania CigaretteTCC	0.00 pp	+0.65%	+0.57%	+0.08%
10 Jul 2026 to 17 Jul 20262026-07-10 to 2026-07-17	Tanga CementTCCL	+0.30 pp	+7.21%	+0.57%	+6.64%
10 Jul 2026 to 17 Jul 20262026-07-10 to 2026-07-17	NMB BankNMB	-0.04 pp	+0.30%	+0.57%	-0.27%
10 Jul 2026 to 17 Jul 20262026-07-10 to 2026-07-17	CRDB BankCRDB	+0.17 pp	+0.37%	+0.57%	-0.20%
26 Jun 2026 to 10 Jul 20262026-06-26 to 2026-07-10	VodacomVODA	+0.15 pp	+8.11%	+2.42%	+5.69%
26 Jun 2026 to 10 Jul 20262026-06-26 to 2026-07-10	Twiga CementTPCC	-0.51 pp	-5.24%	+2.42%	-7.66%
26 Jun 2026 to 10 Jul 20262026-06-26 to 2026-07-10	Tanzania CigaretteTCC	-0.26 pp	+0.16%	+2.42%	-2.26%
26 Jun 2026 to 10 Jul 20262026-06-26 to 2026-07-10	Tanga CementTCCL	+0.20 pp	+1.59%	+2.42%	-0.83%
26 Jun 2026 to 10 Jul 20262026-06-26 to 2026-07-10	NMB BankNMB	+0.18 pp	+3.86%	+2.42%	+1.44%
26 Jun 2026 to 10 Jul 20262026-06-26 to 2026-07-10	CRDB BankCRDB	+0.31 pp	+5.91%	+2.42%	+3.49%
12 Jun 2026 to 26 Jun 20262026-06-12 to 2026-06-26	VodacomVODA	-0.09 pp	-1.99%	+1.32%	-3.31%
12 Jun 2026 to 26 Jun 20262026-06-12 to 2026-06-26	Twiga CementTPCC	-0.58 pp	-7.09%	+1.32%	-8.41%
12 Jun 2026 to 26 Jun 20262026-06-12 to 2026-06-26	Tanzania CigaretteTCC	-0.34 pp	-1.05%	+1.32%	-2.37%
12 Jun 2026 to 26 Jun 20262026-06-12 to 2026-06-26	Tanga CementTCCL	+0.11 pp	+0.64%	+1.32%	-0.68%
12 Jun 2026 to 26 Jun 20262026-06-12 to 2026-06-26	NMB BankNMB	-0.10 pp	+7.34%	+1.32%	+6.02%
12 Jun 2026 to 26 Jun 20262026-06-12 to 2026-06-26	CRDB BankCRDB	-0.20 pp	-7.30%	+1.32%	-8.62%
5 Jun 2026 to 12 Jun 20262026-06-05 to 2026-06-12	VodacomVODA	-0.10 pp	-1.31%	-2.50%	+1.19%
5 Jun 2026 to 12 Jun 20262026-06-05 to 2026-06-12	Twiga CementTPCC	-0.08 pp	-2.84%	-2.50%	-0.34%
5 Jun 2026 to 12 Jun 20262026-06-05 to 2026-06-12	Tanzania CigaretteTCC	-0.16 pp	-2.13%	-2.50%	+0.37%
5 Jun 2026 to 12 Jun 20262026-06-05 to 2026-06-12	Tanga CementTCCL	0.00 pp	0.00%	-2.50%	+2.50%
5 Jun 2026 to 12 Jun 20262026-06-05 to 2026-06-12	NMB BankNMB	+0.57 pp	+0.74%	-2.50%	+3.24%
5 Jun 2026 to 12 Jun 20262026-06-05 to 2026-06-12	CRDB BankCRDB	-0.22 pp	-2.14%	-2.50%	+0.36%
29 May 2026 to 5 Jun 20262026-05-29 to 2026-06-05	VodacomVODA	+0.04 pp	+3.38%	+0.46%	+2.92%
29 May 2026 to 5 Jun 20262026-05-29 to 2026-06-05	Twiga CementTPCC	+0.02 pp	+0.82%	+0.46%	+0.36%
29 May 2026 to 5 Jun 20262026-05-29 to 2026-06-05	Tanzania CigaretteTCC	-0.24 pp	-2.01%	+0.46%	-2.47%
29 May 2026 to 5 Jun 20262026-05-29 to 2026-06-05	Tanga CementTCCL	+0.17 pp	+7.59%	+0.46%	+7.13%
29 May 2026 to 5 Jun 20262026-05-29 to 2026-06-05	NMB BankNMB	-0.14 pp	-0.34%	+0.46%	-0.80%
29 May 2026 to 5 Jun 20262026-05-29 to 2026-06-05	CRDB BankCRDB	-0.02 pp	+1.82%	+0.46%	+1.36%
8 May 2026 to 29 May 20262026-05-08 to 2026-05-29	VodacomVODA	+0.17 pp	-1.99%	+4.80%	-6.79%
8 May 2026 to 29 May 20262026-05-08 to 2026-05-29	Twiga CementTPCC	+0.23 pp	+0.27%	+4.80%	-4.53%
8 May 2026 to 29 May 20262026-05-08 to 2026-05-29	Tanzania CigaretteTCC	+0.18 pp	+0.23%	+4.80%	-4.57%
8 May 2026 to 29 May 20262026-05-08 to 2026-05-29	Tanga CementTCCL	+0.35 pp	-2.36%	+4.80%	-7.16%
8 May 2026 to 29 May 20262026-05-08 to 2026-05-29	NMB BankNMB	-4.77 pp	+14.95%	+4.80%	+10.15%
8 May 2026 to 29 May 20262026-05-08 to 2026-05-29	CRDB BankCRDB	+0.29 pp	+5.36%	+4.80%	+0.56%
24 Apr 2026 to 8 May 20262026-04-24 to 2026-05-08	VodacomVODA	+0.01 pp	+0.67%	-1.08%	+1.75%
24 Apr 2026 to 8 May 20262026-04-24 to 2026-05-08	Twiga CementTPCC	-0.09 pp	0.00%	-1.08%	+1.08%
24 Apr 2026 to 8 May 20262026-04-24 to 2026-05-08	Tanzania CigaretteTCC	+0.63 pp	+4.11%	-1.08%	+5.19%
24 Apr 2026 to 8 May 20262026-04-24 to 2026-05-08	Tanga CementTCCL	-0.05 pp	+0.68%	-1.08%	+1.76%
24 Apr 2026 to 8 May 20262026-04-24 to 2026-05-08	NMB BankNMB	-0.97 pp	-5.87%	-1.08%	-4.79%
24 Apr 2026 to 8 May 20262026-04-24 to 2026-05-08	CRDB BankCRDB	+0.03 pp	-4.74%	-1.08%	-3.66%
10 Apr 2026 to 24 Apr 20262026-04-10 to 2026-04-24	VodacomVODA	-0.09 pp	-5.66%	-3.00%	-2.66%
10 Apr 2026 to 24 Apr 20262026-04-10 to 2026-04-24	Twiga CementTPCC	+0.13 pp	-1.08%	-3.00%	+1.92%
10 Apr 2026 to 24 Apr 20262026-04-10 to 2026-04-24	Tanzania CigaretteTCC	+0.16 pp	-1.35%	-3.00%	+1.65%
10 Apr 2026 to 24 Apr 20262026-04-10 to 2026-04-24	Tanga CementTCCL	+0.07 pp	-0.67%	-3.00%	+2.33%
10 Apr 2026 to 24 Apr 20262026-04-10 to 2026-04-24	NMB BankNMB	-1.46 pp	-1.22%	-3.00%	+1.78%
10 Apr 2026 to 24 Apr 20262026-04-10 to 2026-04-24	CRDB BankCRDB	-0.04 pp	+1.11%	-3.00%	+4.11%
20 Mar 2026 to 10 Apr 20262026-03-20 to 2026-04-10	VodacomVODA	+0.09 pp	-0.62%	+0.74%	-1.36%
20 Mar 2026 to 10 Apr 20262026-03-20 to 2026-04-10	Twiga CementTPCC	+0.45 pp	+3.79%	+0.74%	+3.05%
20 Mar 2026 to 10 Apr 20262026-03-20 to 2026-04-10	Tanzania CigaretteTCC	+0.97 pp	+9.00%	+0.74%	+8.26%
20 Mar 2026 to 10 Apr 20262026-03-20 to 2026-04-10	Tanga CementTCCL	-0.11 pp	-6.60%	+0.74%	-7.34%
20 Mar 2026 to 10 Apr 20262026-03-20 to 2026-04-10	NMB BankNMB	+0.82 pp	-1.27%	+0.74%	-2.01%
20 Mar 2026 to 10 Apr 20262026-03-20 to 2026-04-10	CRDB BankCRDB	-1.57 pp	-4.58%	+0.74%	-5.32%
20 Feb 2026 to 27 Feb 20262026-02-20 to 2026-02-27	VodacomVODA	-0.37 pp	+3.14%	+2.23%	+0.91%
20 Feb 2026 to 27 Feb 20262026-02-20 to 2026-02-27	Twiga CementTPCC	+1.79 pp	+1.82%	+2.23%	-0.41%
20 Feb 2026 to 27 Feb 20262026-02-20 to 2026-02-27	Tanzania CigaretteTCC	-1.01 pp	+1.16%	+2.23%	-1.07%
20 Feb 2026 to 27 Feb 20262026-02-20 to 2026-02-27	Tanga CementTCCL	-0.80 pp	0.00%	+2.23%	-2.23%
20 Feb 2026 to 27 Feb 20262026-02-20 to 2026-02-27	NMB BankNMB	+0.78 pp	+6.00%	+2.23%	+3.77%
20 Feb 2026 to 27 Feb 20262026-02-20 to 2026-02-27	CRDB BankCRDB	-0.70 pp	-5.10%	+2.23%	-7.33%
13 Feb 2026 to 20 Feb 20262026-02-13 to 2026-02-20	VodacomVODA	-0.35 pp	-2.45%	+4.14%	-6.59%
13 Feb 2026 to 20 Feb 20262026-02-13 to 2026-02-20	Twiga CementTPCC	+0.03 pp	+4.44%	+4.14%	+0.30%
13 Feb 2026 to 20 Feb 20262026-02-13 to 2026-02-20	Tanzania CigaretteTCC	-0.34 pp	-4.68%	+4.14%	-8.82%
13 Feb 2026 to 20 Feb 20262026-02-13 to 2026-02-20	Tanga CementTCCL	-0.19 pp	-0.31%	+4.14%	-4.45%
13 Feb 2026 to 20 Feb 20262026-02-13 to 2026-02-20	NMB BankNMB	+3.93 pp	+10.12%	+4.14%	+5.98%
13 Feb 2026 to 20 Feb 20262026-02-13 to 2026-02-20	CRDB BankCRDB	+0.09 pp	+21.24%	+4.14%	+17.10%
6 Feb 2026 to 13 Feb 20262026-02-06 to 2026-02-13	VodacomVODA	-0.52 pp	-4.68%	+7.19%	-11.87%
6 Feb 2026 to 13 Feb 20262026-02-06 to 2026-02-13	Twiga CementTPCC	-0.58 pp	+2.44%	+7.19%	-4.75%
6 Feb 2026 to 13 Feb 20262026-02-06 to 2026-02-13	Tanzania CigaretteTCC	-1.69 pp	+2.02%	+7.19%	-5.17%
6 Feb 2026 to 13 Feb 20262026-02-06 to 2026-02-13	Tanga CementTCCL	-0.79 pp	+1.27%	+7.19%	-5.92%
6 Feb 2026 to 13 Feb 20262026-02-06 to 2026-02-13	NMB BankNMB	-1.31 pp	+10.26%	+7.19%	+3.07%
6 Feb 2026 to 13 Feb 20262026-02-06 to 2026-02-13	CRDB BankCRDB	-0.61 pp	+11.64%	+7.19%	+4.45%

NSE ETF screen · boundaries first

NSE offers wrapper comparators, not mandate matches.

NSE has listed ETF comparators, but neither is an apples-to-apples match for IEACLC or Vertex. NewGold is a physically backed gold exposure; Satrix MSCI World is a developed-market global-equity feeder. They are useful market-structure comparators for exchange access, price-versus-NAV, fees and liquidity; not substitutes for Tanzania or East Africa equity exposure.

Comparability ruling

0 apples-to-apples2 market-structure comparators · checked 6 Aug 2026

Tanzania ETF mandates and official NSE-listed comparator screen
Vehicle	Venue / currency	Asset class	Geography	Benchmark / mandate
IEACLCiTrust East Africa Large Cap ETF	DSE / TZS	Listed equities	East Africa	Manager mandate; disclosed East African large-cap basket
VERTEXVertex International Securities ETF	DSE / TZS	Listed equities	Tanzania	Manager mandate; five named Tanzanian listed constituents
GLDNewGold ETF - Kenya	NSE / KES	Commodity	Global gold bullion	Gold Spot
SATRIX MSCI WORLDSatrix MSCI World Equity Feeder ETF	NSE / KES	Listed equities	Developed markets globally	MSCI World Index in ZAR

GLD · structure only

NewGold ETF - Kenya

as at 2026-03-31

Listed debenture; each security represents approximately 1/100th ounce and is fully backed by gold bullion

Comparable on

• exchange-listed access
• price-versus-NAV discipline
• market-maker and liquidity evidence
• fee disclosure

Not comparable on

• asset class
• regional company exposure
• benchmark return
• dividend profile

Open official source

SATRIX MSCI WORLD · wrapper and market structure

Satrix MSCI World Equity Feeder ETF

as at 2025-07-16

Secondary-listed feeder ETF investing in the iShares Core MSCI World UCITS ETF

Comparable on

• exchange-listed access
• feeder-ETF structure
• price-versus-NAV discipline
• currency and cross-listing disclosure

Not comparable on

• geographic exposure
• benchmark constituents
• East Africa operating exposure
• return ranking without matched dates and currency treatment

Open official source

Method: The screen asks whether an NSE-listed vehicle is comparable to Tanzania's listed ETFs by wrapper, venue, asset class, geography and benchmark. A shared ETF wrapper is not treated as sufficient for return comparison. No performance ranking is produced where mandates are unlike.

Exact-date coverage

161 NAV · 157 DSE closes · 156 matched dates

18 Sep 2026 is the latest date on which both sources published an observation. Its TZS 1,440 DSE close was a 0.28% premium to the TZS 1,436.04 manager NAV.

DSE session audit through 18 Sep 2026: 157 captured-close · 0 no-trade · 4 KCP capture-gap sessions. No-trade sessions and missing KCP captures are classified separately.

How have IEACLC NAV and exchange close evolved on their own clocks?

IEACLC published NAV and DSE close

As at 18 Sep 2026 · Source: iTrust Finance and Dar es Salaam Stock Exchange. Exact values and method remain in the static evidence table below.

Where do VERTEX NAV and exchange close genuinely overlap?

VERTEX published NAV and DSE close

As at 18 Sep 2026 · Source: Vertex International Securities and Dar es Salaam Stock Exchange. Exact values and method remain in the static evidence table below.

How unusual is the latest IEACLC premium or discount?

IEACLC same-date premium or discount

As at 18 Sep 2026 · Source: iTrust Finance; Dar es Salaam Stock Exchange; KCP transformation. Exact values and method remain in the static evidence table below.

Where have matched IEACLC gaps been concentrated?

Distribution of same-date IEACLC gaps

As at 18 Sep 2026 · Source: iTrust Finance; Dar es Salaam Stock Exchange; KCP distribution. Exact values and method remain in the static evidence table below.